Singaporean investor Ara Asset Management Ltd. wrapped up its A$405 million purchase of Redefine Properties Ltd.'s 19.5% stake in Cromwell Property Group, The Australian Financial Review's Street Talk blog reported.
An estimated 386.5 million Cromwell shares changed hands as part of the transaction, which, according to the May 30 report, was the biggest trade in all of May.
The recently consummated deal was signed in March. At the time, the South Africa-based Redefine said it will hold a 3.09% stake in Cromwell after the transaction.
Street Talk noted that the completion of the deal followed the procurement of necessary approvals from authorities, including Australia's Foreign Investment Review Board.
